Investment in public transport can affect more than those who use the improved systems. The areas through which the new system operates can benefit in a number of ways. This report describes an exercise which monitors the effect that the opening of the new Tyne and Wear metro had on the value of residential properties in the districts through which the lines pass. Some of the methods of analysis used in other countries are discussed together with the types of data that were available for collection in Tyne and Wear. Three different methods of analysis were undertaken on the data collected. It was found that, relative to properties remote from metro, there was an average increase of £360 (1.7%) in the values of the properties near to metro stations during the two month periods either side of the date on which each section of line opened. (Author/publisher)
Abstract